CAN a GARNISHMENT in COLORADO make you lose your home ?

Due to an old boyfriend that I co-signed foron a loan. We broke up ,and he later committed suicide. because of his new friend and drugs.

Answers:
That depends. Many states have homestead exemption. Meaning: it cannot be taken away from you. I am not sure if Colorado has this, but many do.

If you cannot afford it, sell it and thus the mortgage will be paid off. If you are a signatory to the note and mortgage you are responsible for it. If you can't pay it, the bank will foreclose on the note and then force the sale of the home.

Usually garnishments apply to wages. If its a judgment, it can be filed against the property as a lien so that when it sells, the people (if the lien is properly and timely filed) will then collect their money.

IF you cannot afford to pay for your home and the garnishment, then yes, you could potentially lose your home.

You shouldn't co-sign for a loan without collateral.
Yes

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